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AMZ, an Australian company, has just announced a fully franked cash dividend of $3 per share in a market where the statutory corporate tax rate

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AMZ, an Australian company, has just announced a fully franked cash dividend of $3 per share in a market where the statutory corporate tax rate is 30%. An Australian resident shareholder holds one share in AMZ and pays tax at a marginal tax rate of 35%. Which of the following statements is correct with respect to the situation described above? O The franking credit received by this shareholder will be $0.90 (to the nearest cent). The shareholder's personal tax payment on the dividend will be $1.05 (to the nearest cent). More than one of the other statements is correct. The shareholder's after-tax net return from the dividend will be close to $2.79 (to the nearest cent). None of the other statements is correct

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